Production Expected to Reach at Least 200 BOPD at Lloydminster
WINNIPEG, June 11 /CNW/ - Donald Benson, Chairman and Chief Executive
Officer of Nordic Oil and Gas Ltd ("Nordic" or the "Company"), today announced
that the Company has now licensed the first of its two new re-entry wells at
Lloydminster, Alberta, and that the service rig would be on site today.
Re-completion of the well will begin today and should be completed within five
days. Once completed, the rig will then move over to the second re-entry well
site, which is currently being licensed.
In addition, Nordic also plans to drill a third well at Lloydminster,
which was licensed a few months ago. It is anticipated that the two re-entry
wells will be on production by the end of this month, while the third well
should be producing sometime in July.
"This will bring to nine the number of heavy oil wells the Company will
have on production at Lloydminster," Mr. Benson stated. "In our News Release
dated June 5, 2009, we stated that the Company was producing 150 barrels of
oil per day (BOPD) from its six wells in Lloydminster. The addition of these
three wells should bring our total production in the area to at least 200
barrels of oil per day."
About Nordic Oil and Gas Ltd.
Nordic Oil and Gas Ltd. is a junior oil and gas company engaged in the
exploration and development of oil, natural gas and Coal Bed Methane in
Alberta and Saskatchewan. The Corporation is listed on the TSX Venture
Exchange and trades under the symbol NOG.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of the contents of this News
(*) BOEs may be misleading, particularly if used in isolation. A BOE
conversion ratio of 6 Mcf: 1 barrel is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead.
This press release contains forward-looking statements with respect to
Nordic Oil and Gas Ltd. Lloydminster property, and matters concerning the
business, operations, strategy, and financial performance of Nordic. These
statements generally can be identified by use of forward-looking words such as
"may", "will", "expect", "estimate", "anticipate", "intends", "believe" or
"continue" or the negative thereof or similar variations. Such forward-looking
statements are qualified in their entirety by the inherent risks and
uncertainties surrounding future expectations, including that the estimates
and projections regarding the Lloydminster property are realized.
Forward-looking statements are based on a number of assumptions which may
prove to be incorrect. Unless otherwise stated, all forward looking statements
speak only as of the date of this press release and Nordic does not undertake
any obligation to update such statements except as required by law.
For further information:
For further information: Donald Benson, Chairman & CEO, Nordic Oil & Gas
Ltd., Tel: (204) 956-5042, Fax: (204) 897-7154, E-mail: email@example.com; Don
Bain, Corporate Secretary, Nordic Oil and Gas Ltd., Tel. (204) 229-7751, Fax.
(204) 943-1829, E-mail: firstname.lastname@example.org; www.nordicoilandgas.com